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PDBC vs. COMM.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

PDBC vs. COMM.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and iShares Diversified Commodity Swap UCITS ETF (COMM.L).

PDBC and COMM.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PDBC is an actively managed fund by Invesco. It was launched on Nov 7, 2014. COMM.L is a passively managed fund by iShares that tracks the performance of the Bloomberg Commodity. It was launched on Jul 18, 2017.

Performance

PDBC vs. COMM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and iShares Diversified Commodity Swap UCITS ETF (COMM.L). The values are adjusted to include any dividend payments, if applicable.

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PDBC vs. COMM.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PDBC
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF		29.06%5.96%2.09%-6.25%19.23%41.72%-7.84%11.44%-12.78%12.62%
COMM.L
iShares Diversified Commodity Swap UCITS ETF		22.59%16.72%4.42%-7.94%14.62%27.87%-4.24%7.31%-10.24%5.96%
Different Trading Currencies

PDBC is traded in USD, while COMM.L is traded in GBp. To make them comparable, the COMM.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PDBC achieves a 29.06% return, which is significantly higher than COMM.L's 22.59% return.

PDBC

1D
-1.27%
1M
11.33%
YTD
29.06%
6M
32.46%
1Y
30.13%
3Y*
10.80%
5Y*
14.00%
10Y*
9.72%

COMM.L

1D
-1.61%
1M
8.58%
YTD
22.59%
6M
30.45%
1Y
30.72%
3Y*
13.57%
5Y*
13.46%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

iShares Diversified Commodity Swap UCITS ETF

Often compared with PDBC:
PDBC vs. DBCPDBC vs. BCIPDBC vs. GSGPDBC vs. COMTPDBC vs. FTGCPDBC vs. BCDPDBC vs. DJP
Often compared with COMM.L:
COMM.L vs. GLTRCOMM.L vs. RINFCOMM.L vs. LCSIXCOMM.L vs. SGLP.LCOMM.L vs. CMOP.LCOMM.L vs. COMCOMM.L vs. GLD

PDBC vs. COMM.L - Expense Ratio Comparison

PDBC has a 0.58% expense ratio, which is higher than COMM.L's 0.19% expense ratio.

PDBC
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF
COMM.L
iShares Diversified Commodity Swap UCITS ETF

Return for Risk

PDBC vs. COMM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PDBC
PDBC Risk / Return Rank: 7878
Overall Rank
PDBC Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
PDBC Sortino Ratio Rank: 8181
Sortino Ratio Rank
PDBC Omega Ratio Rank: 7575
Omega Ratio Rank
PDBC Calmar Ratio Rank: 8686
Calmar Ratio Rank
PDBC Martin Ratio Rank: 6565
Martin Ratio Rank
COMM.L
COMM.L Risk / Return Rank: 8080
Overall Rank
COMM.L Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
COMM.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
COMM.L Omega Ratio Rank: 7676
Omega Ratio Rank
COMM.L Calmar Ratio Rank: 9393
Calmar Ratio Rank
COMM.L Martin Ratio Rank: 7373
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PDBC vs. COMM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and iShares Diversified Commodity Swap UCITS ETF (COMM.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

PDBCCOMM.LDifference

Sharpe ratio

Return per unit of total volatility

1.62

1.83

-0.22

Sortino ratio

Return per unit of downside risk

2.19

2.39

-0.21

Omega ratio

Gain probability vs. loss probability

1.29

1.33

-0.04

Calmar ratio

Return relative to maximum drawdown

2.74

4.13

-1.39

Martin ratio

Return relative to average drawdown

6.73

9.75

-3.02

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PDBC vs. COMM.L - Sharpe Ratio Comparison

The current PDBC Sharpe Ratio is 1.62, which is comparable to the COMM.L Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of PDBC and COMM.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

PDBCCOMM.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.62

1.83

-0.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.81

-0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.55

-0.34

Correlation

The correlation between PDBC and COMM.L is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PDBC vs. COMM.L - Dividend Comparison

PDBC's dividend yield for the trailing twelve months is around 2.97%, while COMM.L has not paid dividends to shareholders.

TTM2025202420232022202120202019201820172016
PDBC
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF		2.97%3.84%4.42%4.21%13.05%50.83%0.01%1.40%1.00%3.83%6.51%
COMM.L
iShares Diversified Commodity Swap UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

PDBC vs. COMM.L - Drawdown Comparison

The maximum PDBC drawdown since its inception was -49.52%, which is greater than COMM.L's maximum drawdown of -33.13%. Use the drawdown chart below to compare losses from any high point for PDBC and COMM.L.

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Drawdown Indicators

PDBCCOMM.LDifference

Max Drawdown

Largest peak-to-trough decline

-49.52%

-28.49%

-21.03%

Max Drawdown (1Y)

Largest decline over 1 year

-11.07%

-9.40%

-1.67%

Max Drawdown (5Y)

Largest decline over 5 years

-27.63%

-28.49%

+0.86%

Max Drawdown (10Y)

Largest decline over 10 years

-40.73%

—

—

Current Drawdown

Current decline from peak

-2.29%

-2.25%

-0.04%

Average Drawdown

Average peak-to-trough decline

-23.53%

-12.34%

-11.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.50%

3.34%

+1.16%

Volatility

PDBC vs. COMM.L - Volatility Comparison

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a higher volatility of 8.36% compared to iShares Diversified Commodity Swap UCITS ETF (COMM.L) at 7.83%. This indicates that PDBC's price experiences larger fluctuations and is considered to be riskier than COMM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PDBCCOMM.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.36%

7.83%

+0.53%

Volatility (6M)

Calculated over the trailing 6-month period

13.95%

13.35%

+0.60%

Volatility (1Y)

Calculated over the trailing 1-year period

18.73%

16.70%

+2.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.92%

16.61%

+2.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.69%

15.39%

+2.30%